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Mincor Resources NL
Summary
| Project: | Kambalda | |
|---|---|---|
| Deposit: | Cassini | |
| Location: | Australia | |
| Commodities: | Nickel-Copper-Cobalt | |
| Date: | 10/30/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-10-2019: Mincor Resources NL announces an Exploration/Drilling Update report for its Cassini deposit at the Kambalda project. Drilling results incl. 8.14m @ 5.17% Ni, 0.59% Cu, 0.12% Co from 641m. Mincor Resources NL (ASX: MCR, “Mincor” or the “Company | |
| Resources: | (Resource, I+I): 0.985Mt @ 3.8% Ni at Cassini | |
| CP/QP: | [Overall Report]: Rob Hartley (Internal) | |
| ABSTRACT: | Mincor Resources NL (ASX: MCR, “Mincor” or the “Company”) is pleased to advise that work has commenced on an updated Mineral Resource for the Cassini nickel sulphide deposit after latest diamond drilling yielded another impressive thick zone of high-grade nickel sulphide mineralisation. The up-wedge hole referred to in the announcement of 18 October 2019 has returned a high-grade intercept of 8.1m @ 5.7% Ni, with the latest intercept located within the targeted 72m down-plunge gap between previously reported high-grade intercepts in MDD323w2 (38m gap) and MDD334 (34m gap). MDD334w1 is located on the Inferred/Indicated Resource boundary within the current Mineral Resource envelope in the recently delineated CS5 channel. This new intersection is higher grade and thicker than currently estimated in the Resource block model. The new up-wedge intercept demonstrates the continuity, thickness and high grade nickel sulphides contained within the CS5 surface and clears the way for the completion of an updated Mineral Resource which will be used by the Operations Team to establish a Maiden Ore Reserve for the Definitive Feasibility Study (DFS). The Ore Reserve will be released as part of the DFS in the March 2020 quarter. | |
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